Posted on: 27th Jan, 2009 05:00 pm
my husband and i are both on a mortgage of a rental property which used to be our primary residence. my husband's credit is bad due to defaulting on three credit cards while he had a significant i have a credit score of 740 and make 36k a year. the home is tax valued at 210 and we owe 188 on it. the interest rate is high. we cannot refinance due to his credit. could he quit claim to me or something so that i could apply for refinancing under my own credit/income?
Hi Jana,
If you have a good credit and income, then your husband may quitclaim the property to you and you may refinance the property at a lower rate in your name. You can speak to your current lender and check out if he is ready to refinance at a better rate or not. if not, then you may also consult with other lenders and check what rates and terms they are offering. You can also seek a no obligation free mortgage consultation from the lenders of this community and check what rates and terms you may expect to get.
Thanks
If you have a good credit and income, then your husband may quitclaim the property to you and you may refinance the property at a lower rate in your name. You can speak to your current lender and check out if he is ready to refinance at a better rate or not. if not, then you may also consult with other lenders and check what rates and terms they are offering. You can also seek a no obligation free mortgage consultation from the lenders of this community and check what rates and terms you may expect to get.
Thanks